Coinbase CEO Armstrong Wins Patent for Tech Allowing Users to Email Bitcoin

Coinbase CEO Brian Armstrong has been granted a U.S. patent for an invention that makes sending bitcoin as easy as email, literally.

The patent, granted on Tuesday and filed in March 2015, details a system for users to make cryptocurrency payments with email addresses linked to corresponding wallet addresses.

The sender makes a request to send cryptocurrency to an email address, and the system automatically transmits the agreed amount - so long as they have the required balance - from the sender's wallet to the wallet corresponding to the receiver's email address.

While Coinbase has made more than $2 billion in transaction fees since 2012, the proposed email system will not charge users fees.

The patent specifically mentions bitcoin and doesn't say whether the system could support other cryptocurrencies, but presumably that wouldn't be a major hurdle.

There also appears to be no restriction on email providers, meaning users could use existing email addresses should they wish to.

The email system would also include a featured exchange facility for users to make in-app bitcoin trades using fiat currency from a linked bank account.

Whether the exchange plans a new service based on the patent isn't clear.

The email transaction system would potentially make cryptocurrency transactions easier for less advanced users.

In August, Armstrong said he wanted to create an inclusive financial system: "The vision for Coinbase is creating more economic freedom for every person and business in the world over the next 10 years."